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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Swiss Attorney General Expands Probe of Malaysia’s 1MDB Fund

Posted on 13 October 2016

Zurich-based lender Falcon investigated for possible failure to prevent alleged money laundering tied to 1MDB. Switzerland’s Office of the Attorney General has expanded its scrutiny of Malaysian public investment fund 1Malaysia Development Bhd., or 1MDB, by opening a criminal probe of a small Swiss lender recently penalized for its 1MDB ties.
The Swiss attorney general’s office said on Wednesday that internal “deficiencies” at Zurich-based Falcon Private Bank AG may have caused it to fail to prevent alleged money laundering associated with 1MDB………………………………….Full Article: Source


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